Markets: Weak opening expected on weak global sentiment; SGX Nifty down – World Affairs SRS

Markets: Weak opening expected on weak global sentiment; SGX Nifty down

– World Affairs SRS

Live Market Updates: Benchmark indices are likely to open lower on Friday amid weak global cues. SGX Nifty futures were seen trading at 18,225 levels on Thursday, about 60 points lower than the spot closing spot of Nifty.

Market action is expected to be largely stock specific given earnings season. IT major HCL Technology will announce its Q3 results.

On the macro-front, India will also announce WPI-based inflation data this afternoon.

Also among stocks, HDFC Bank, Onward Technologies, Tinplate Company of India and Metro Brands will be the focus ahead of the December quarter earnings announcements on Friday and Saturday.

global signal

US markets fell on Thursday, led by the tech-led benchmark Nasdaq, amid talks by Fed officials about a possible interest rate hike in March. The Dow Jones lost 0.5 percent. The S&P 500 lost 1.4 percent and the Nasdaq fell 2.5 percent.

Meanwhile, profit-booking after the recent sharp jump brought some coolness in oil prices. Brent crude fell 0.2 percent to $ 84.47 a barrel and WTI crude was down 0.6 percent to $ 82.12 a barrel.

Major Asian markets were trading with a heavy fall this morning. Japan’s Nikkei was down 1.7 per cent and the Kospi was also down more than one per cent. The Hang Seng and the Shanghai Composite lost nearly one per cent each. Taiwan was down 0.6 percent. The Straits Times, however, was up 0.5 per cent.

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